A great 2016 for our Corporate team

A great 2016 for our Corporate team

Ian Mabbutt, Prinicipal

6th January 2017

A great 2016 for our Corporate team

"Despite the economic uncertainty that has hit the UK over the past 6 months, the EMW Corporate team continues to grow and has kept very busy in 2016. Here is just a snapshot of some of the deals we have advised on last year."

TXM PLANT

We acted for the selling shareholders of TXM Plant Holdings Limited in the Lloyds Development Capital backed management buy-out, with funding provided by PNC Financial Services, and subsequent rollover investment by some of the sellers. The deal has been a testament to EMW’s growth over the past year, has added to our expertise in the Rail sector and has highlighted the M&A services we can offer clients.

HEATING PLUMBING SUPPLIES

We advised the shareholders of independent plumber’s merchant, Heating Plumbing Supplies Group (HPS), on the sale of the company to AIM-Listed ‘essential services’ investor firm Marlowe Investments. We have acted for HPS since its formation in October 2001, acting on a management buy out in 2011 and now the exit in 2016, highlighting our experience and expertise in advising businesses throughout their life cycle.

PRAESEPE

We acted for the amusement arcades provider Praesepe Holdings Limited on its acquisition of 25 new gaming centres from William Clark, owner of the family amusement business, Teddy Clark Amusement. The deal was turned around in just six weeks and involved both the acquisition of 25 new locations as well as a restructure prior to completion. We have advised Praesepe for over 10 years and the deal has further helped increase Praesepe’s already large portfolio of over 185 trading venues, which includes ACGs, Bingo Clubs and Family Entertainment Centres.

BUSHBOARD

We advised the shareholders of Bushboard Holdings Limited, specialists in the creation and manufacturing of worktops and wall systems for the kitchen and bathroom sectors, on the sale of the company to the US based buyer, Wilsonart LLC. We have acted for Bushboard since its management buy out in 2000 and the deal has been a testimony to our experience in the M&A field and how we can support a business throughout its growth stage through to an exit.

ROCKPOOL INVESTMENTS

We acted for private equity firm Rockpool Investments LLP on its investment into Hydralectric Group Limited, a Surrey based business which provides a range of valves and flexible hose assemblies, selling mainly to manufacturers of showers, drinks vending machines, boilers, catering equipment, mobile homes and medical equipment. We have fine tuned a formula deal structure to help make the investment and acquisition process for Rockpool as streamlined and straightforward as possible on countless transactions. This deal has been one of the highlight deals in terms of the numerous matters we have advised Rockpool on in 2016 and has further demonstrated the corporate services we can provide clients.

BIRMINGHAM OPTICAL GROUP

We advised on the restructure of the Birmingham Optical Group by way of a secondary management buyout. This was a significant deal as we have acted for the Birmingham Optical Group since 2006 in its first management buy-out and it has been a privilege to assist once again on the next step of the company’s future. The matter has been a further testament of Ian Morris’ (Chairman of EMW) continued expertise in advising and leading on management buy-out transactions.

OCEE DESIGN

We acted for commercial furniture supplier, Ocee Design, on their £10m investment from the Business Growth Fund, the UK’s most active provider of growth capital to SMEs, and its subsequent acquisition of Danish furniture designer, Four Design. We are proud to have assisted Ocee on the next stage of their growth as the group (Ocee International) moves forward with its expansion across the European and global markets. The deal won private equity deal of the year for the Insider Dealmaker Awards 2016 for the South East which further builds on EMW’s expertise and ability in leading M&A work.

RIVERSIDE CAPITAL

We advised Riverside Capital Group Limited on raising circa £11m debt and circa £9m equity and further assisting in acquiring four commercial properties to develop into Travelodge Hotels. Amongst other deals we advised Riverside Capital on in 2016, this transaction was a highlight for us as it demonstrated our ability to manage a sophisticated debt and equity backed acquisition of four hotel sites across the UK. The deal has also been a testimony to the extensive expertise of Nick Lloyd (Principal in our Corporate team) in working with limited partnership fund structures to achieve the best and most efficient result for clients on such investment transactions.

INFINITY TRACKING

We acted for Infinity Tracking Limited, the number one rated, cloud based call tracking service, on the terms of a £10m investment in the company by Smedvig Capital. The deal allowed us to demonstrate our expertise in understanding and advising a client during its growth stage which has enabled Infinity to further its development in the European and global markets. It was great to work with the team at Infinity on this deal which has further added to our corporate experience and expertise in the Technology sector.

GROWTHDECK

We advised Growthdeck Limited, a new equity based crowdfunding platform, on the UK’s biggest ever debut crowdfunding deal into Pinkster Gin. Whilst not the largest transaction, it was great to be involved in the UK’s largest debut crowdfunding which presented us with new legal challenges to tackle in the emerging and evolving crowdfunding market. The deal allowed us to demonstrate our ability to assist start up businesses with their initial growth and to strategically advise on the next steps of a business’ journey. We continued to work with Growthdeck throughout the rest of 2016 and it has been great to assist with their continued success.

It has been a pleasure working with all of our clients on a variety of corporate matters throughout 2016 and we are very much looking forward to working you in 2017.